Three-Family Triplex with
For Sale
$1,799,999
Pending
740 57th St, Brooklyn, NY 11220
Vacant delivery offers three residential levels, a full basement, and access to neighborhood shopping and transit.
Property Size1,992 SF
Days on Market138
Property Features for 740 57th St
General Information
Standard status
Pending
Size
1,992 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,007
Building Details
Building Size
1,992 SF
Year Built
1910
Buildings
1
Stories
3
Units
3
Listed By:
Wai Ha Lam
(718) 866-7755
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Sep 11 at 7:29AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Wai Ha Lam
Investment Insights
Based on property information with market context.
This 3-story, 3-family property contains a 3-bedroom layout on each level, creating a straightforward triplex configuration with a full basement. Built in 1910, the property will be delivered vacant, providing flexibility for an owner-occupant or investor seeking a residential income asset.
The property is located at 740 57th St in Brooklyn’s Sunset Park neighborhood, a few blocks from the N and R subway lines and near 8th Ave shopping and community amenities. WalkScore and TransitScore are both 95, while BikeScore is 76. The address is also within reach of established neighborhood services and daily retail along 8th Ave.
The property is located at 740 57th St in Brooklyn’s Sunset Park neighborhood, a few blocks from the N and R subway lines and near 8th Ave shopping and community amenities. WalkScore and TransitScore are both 95, while BikeScore is 76. The address is also within reach of established neighborhood services and daily retail along 8th Ave.
Key Highlights
- 3‑story, 3‑family property with 3 bedrooms on each level
- Full basement included
- Delivered vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,311
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,220
$1.2M
Cap Rate 7%
$847,300
$847.3K
Cap Rate 9%
$659,011
$659.0K
Market Conditions
NOI Build-Up for 1,992 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$88.4K $44.40/SF
− Vacancy
−$3.7K −$1.86/SF
EGI
$84.7K $42.54/SF
− OpEx
−$25.4K −$12.76/SF
NOI
$59.3K $29.77/SF
Area
ZIP 11220
Vacancy
4.20%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,220
Cap Rate 7%
$847,300
Cap Rate 9%
$659,011
Alternative Uses
Best Use
Multifamily LT 5
$847.3K
$741.4K – $988.5K
NOI $59,311 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$758.9K
$664.0K – $885.3K
NOI $53,120 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$1.29M
$1.13M – $1.51M
NOI $90,395 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
7,012
Businesses Nearby
Explore this area
Business Placement
Demographics for 11220, NY
105,797
Population
30,897
Households
3.4
Avg Household Size
35
Median Age
25%
College-Educated
62%
High-School Grad
1.7 sq mi
ZIP Area
62,234
Density / Sq Mi
$64,201
Median Household Income
$31,489
Median Earnings
$1,688
Median Rent
$1,021,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Vacant delivery offers three residential levels, a full basement, and access to neighborhood shopping and transit.
Where is this triplex located?
The property is located at 740 57th St Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,799,999.
What are key features of this property?
This property features: 3‑story, 3‑family property with 3 bedrooms on each level; Full basement included; Delivered vacant
